New Issue: Wells Fargo prices $27.45 million step-up callable notes with 2% initial rate

By Angela McDaniels

Tacoma, Wash., Oct. 18 – Wells Fargo & Co. priced $27.45 million of step-up callable notes due April 18, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% per year for the first six months, 2.1% per year for the second six months and 2.2% for the last six months. Interest is payable semiannually.

The payout at maturity will be par.

Beginning April 18, 2020, the notes will be callable at par on any quarterly redemption date.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$27,449,000
Maturity:	April 18, 2021
Coupon:	2% per year beginning Oct. 18, 2019 and ending April 17, 2020, 2.1% per year beginning April 18, 2020 and ending Oct. 17, 2020 and 2.2% per year beginning Oct. 18, 2020 and ending April 17, 2021; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par quarterly beginning April 18, 2020
Pricing date:	Oct. 16
Settlement date:	Oct. 18
Agent:	Wells Fargo Securities, LLC
Fees:	0.15%
Cusip:	95001D4Y3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.